Nifty Shorterterm GANN Hourly Charts view

Nifty GANN FAN falling Hourly chart of Nifty is shown and currently nifty is still hanging around the falling resistance line(Brown line) as shown in the chart and also trading below the resistance line for the past three days. Strength will be seen only if nifty trades above 4900 which could probably takes nifty towards the 5050 zone and the current shorter term resistance is near 4860. And the long term GANN supports are near 4780(which is not shown in the chart). So any down move below 4780 could result in drastic downtrend. As of now still calls are written at 4900 series. So its advisable to take shorter term long positions only if nifty trades above 4900

Related Readings and Observations

Nifty hourly trading for 20 August 2010Hourly charts of nifty remains the buy signal with cloud supports near 5427 zone.Daily charts of nifty remains the buy signal since 10th June 2010. i.e the recent buy signal right from […]

Nifty hourly trading for 13 Aug 2010Nifty hourly resistance still near 5466 zone and continuing the sell mode. Also in yesterdays action it nears the first GANN Support zone 5375-5370 region. As the GANN Supports are in […]

Nifty hourly trading and Trin ChartsNifty hourly trading shows the continuation of the buy mode with hourly supports near 5456. Also the rising trin charts shows that recently there are more declining stocks than the […]

About Rajandran

Rajandran is a Full time trader and founder of Marketcalls & Co-Founder of Traderscafe, trades mostly using discretionary Trading Concepts like Market Profile, Trading sentimental analysis, building timing models, algorithmic trading models. Instructs professional traders, full time traders & aspiring full time traders. Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.

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